Transce3nd LLC Makes New Investment in Netflix, Inc. (NASDAQ:NFLX)

by · The Cerbat Gem

Transce3nd LLC bought a new position in Netflix, Inc. (NASDAQ:NFLX – Free Report) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 36 shares of the Internet television network’s stock, valued at approximately $32,000.

Several other institutional investors have also made changes to their positions in NFLX. West Michigan Advisors LLC boosted its stake in Netflix by 1.3% in the 4th quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network’s stock worth $692,000 after purchasing an additional 10 shares during the period. Warwick Investment Management Inc. boosted its position in shares of Netflix by 3.5% in the fourth quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network’s stock worth $266,000 after buying an additional 10 shares during the period. MRP Capital Investments LLC grew its holdings in shares of Netflix by 1.0% during the fourth quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network’s stock valued at $938,000 after buying an additional 10 shares in the last quarter. Bedell Frazier Investment Counselling LLC raised its position in Netflix by 2.2% during the fourth quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network’s stock valued at $412,000 after buying an additional 10 shares during the period. Finally, Enzi Wealth lifted its stake in Netflix by 3.4% in the 4th quarter. Enzi Wealth now owns 331 shares of the Internet television network’s stock worth $316,000 after acquiring an additional 11 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on NFLX shares. Wells Fargo & Company upped their target price on Netflix from $1,210.00 to $1,222.00 and gave the company an “overweight” rating in a report on Monday. Arete Research upgraded shares of Netflix to a “hold” rating in a research note on Thursday, January 23rd. UBS Group decreased their target price on shares of Netflix from $1,150.00 to $1,140.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Argus upped their price target on shares of Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, FBN Securities initiated coverage on Netflix in a research report on Thursday, March 27th. They set an “outperform” rating and a $1,165.00 price objective for the company. Nine analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $1,070.65.

Read Our Latest Report on NFLX

Netflix Stock Performance

NFLX opened at $1,040.34 on Wednesday. The stock has a market cap of $445.01 billion, a PE ratio of 52.46, a P/E/G ratio of 2.12 and a beta of 1.55. Netflix, Inc. has a 1 year low of $544.25 and a 1 year high of $1,064.97. The stock’s 50 day simple moving average is $954.01 and its 200-day simple moving average is $897.26. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX – Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.74 by $0.87. The firm had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. During the same quarter in the previous year, the firm posted $8.28 EPS. Sell-side analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Insiders Place Their Bets

In related news, Director Jay C. Hoag sold 617 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $979.71, for a total transaction of $604,481.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gregory K. Peters sold 4,939 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1,030.00, for a total value of $5,087,170.00. Following the completion of the sale, the chief executive officer now owns 12,950 shares in the company, valued at $13,338,500. This trade represents a 27.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 274,472 shares of company stock worth $268,079,297 over the last quarter. Company insiders own 1.76% of the company’s stock.

About Netflix

(Free Report)

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.

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